Results 21–40 of 11927 for speaker:Philip Hammond

Oral Answers to Questions — Treasury: Topical Questions (18 Jul 2017)

Philip Hammond: At the autumn statement, I made a conscious decision to borrow an additional £23 billion for investment in economically productive infrastructure projects—a conscious decision to address one of the challenges we face in improving Britain’s productivity. The Government will continue to combine a prudent fiscal approach with investment in our future through productivity-raising...

Oral Answers to Questions — Treasury: Topical Questions (18 Jul 2017)

Philip Hammond: We have to deal with two issues. One is the process by which we uprate business rates, and we all saw earlier this year that long periods followed by dramatic revision are not good for anyone. They cause disruption to business, so we are looking at how we can smooth the process. Secondly, we need to look more broadly at the way in which we address the perceived unfairness that companies that...

Oral Answers to Questions — Treasury: Topical Questions (18 Jul 2017)

Philip Hammond: As the hon. Lady may know, I take a clear view about the confidentiality of conversations between Cabinet Ministers—[Laughter.] While I have had many conversations with my right hon. Friend the Secretary of State for Transport, I make it a rule that it is for departmental Secretaries of State to make announcements when appropriate.

Oral Answers to Questions — Treasury: Topical Questions (18 Jul 2017)

Philip Hammond: No, I do not accept that. However, I readily agree with the hon. Gentleman that, as I have said many times in the Chamber, the process of negotiating our exit from the European Union and then executing that exit is bound to create uncertainty, and uncertainty is always unwelcomed by business. The challenge for us is to secure as much certainty as possible as early as possible for business,...

Economy and Jobs (29 Jun 2017)

Philip Hammond: The hon. Lady says that she wants to see a targeted increase in spending. Can she confirm that the Scottish Government will use their powers under the Scotland Act 1998 to raise taxes in Scotland to increase spending in Scotland?

Economy and Jobs (29 Jun 2017)

Philip Hammond: I welcome the opportunity to respond to this debate, to set out our economic record since 2010 and our plans for Britain’s future, and to comment on Labour’s plans for our economy. This Government have a job to do, and a large part of that job over the next 18 months or so will be focused on securing a Brexit deal that is good for Britain and helps to deliver the strong economy...

Economy and Jobs (29 Jun 2017)

Philip Hammond: If the hon. Lady bears with me, she will hear how what we have done since 2010 has strengthened the fundamentals of the British economy. If she is asking me whether the decision the British people made last summer to leave the European Union—and the uncertainty that that has inevitably created as we negotiate our way out of the European Union—adds uncertainty to the economic...

Economy and Jobs (29 Jun 2017)

Philip Hammond: I have not got to it yet, but the hon. Gentleman will hear an elaboration of our record since 2010 in just a moment. I was talking about the 1970s, a decade when the lights literally went out, when inflation was in double digits, the country was crippled by strikes and bully-boy union power, and the Labour Government were forced to go cap-in-hand to the IMF for a bailout. The pretence of...

Economy and Jobs (29 Jun 2017)

Philip Hammond: I will in just a moment. Here is the inconvenient truth for the Labour party about corporation tax. We cut corporation tax to the lowest rate of any large developed economy and two things happened. The private sector created 3.4 million new jobs—something, by the way, that the Labour party used to care about in the old days—and in the process we raised an additional £18...

Economy and Jobs (29 Jun 2017)

Philip Hammond: My hon. Friend is exactly right. There is no short cut and there is no free lunch. There is only the hard grind of improving the productivity and growth potential of our economy to build the sustainable public services that we want for the future.

Economy and Jobs (29 Jun 2017)

Philip Hammond: It is the OBR that makes the projections and it has been quite transparent about what its assumptions are about both trade and immigration.

Economy and Jobs (29 Jun 2017)

Philip Hammond: Just to be clear, there is no change in the Government’s position. Our pay policy has always been designed to strike the right balance between being fair to our public servants and being fair to those who pay for them. That approach has not changed and we continually assess that balance.

Economy and Jobs (29 Jun 2017)

Philip Hammond: As I am sure the hon. Gentleman knows, after the financial crisis, public sector pay ran substantially ahead of private sector pay, and we are only just moving back to the point where public and private sector pay have moved back into balance. [Interruption.] It is not rubbish, it is a fact, so the suggestion that there is a backlog problem for public sector workers is simply not true. As I...

Economy and Jobs (29 Jun 2017)

Philip Hammond: I will make a little progress and then I will give way to some more colleagues on both sides of the House. On this side of the House at least, we continue to believe that the most effective way to protect and support ordinary families is to ensure that they have jobs, and that is what we have done, in spades. The flaw in Labour’s tax plan is not just that it will hit those whom Labour...

Economy and Jobs (29 Jun 2017)

Philip Hammond: My hon. Friend is exactly right, and if he bears with me, I shall continue. That black hole of £8.6 billion a year and rising in taxation will have to be filled by raising tax on ordinary people, and that was just the manifesto. Since the Leader of the Opposition got his new suit, he has been out and about, flinging spending commitments with gusto at anyone he comes into contact...

Economy and Jobs (29 Jun 2017)

Philip Hammond: My hon. Friend is absolutely right. The debt is still rising, but next year, for the first time in 20 years, we expect to see it beginning to fall as a percentage of GDP—a remarkable achievement after the trashing of our economy by the Labour party in government.

Economy and Jobs (29 Jun 2017)

Philip Hammond: If HMRC has negotiated a contract during purdah, it will have taken advice on whether doing that was compatible with purdah and will have received guidance from the Cabinet Secretary. It perhaps says something about the way that the purdah rules work that I was not aware of that until the hon. Gentleman just mentioned it, but I can assure him that HMRC will have taken proper advice.

Economy and Jobs (29 Jun 2017)

Philip Hammond: I give way to the hon. Member for Bishop Auckland (Helen Goodman).

Economy and Jobs (29 Jun 2017)

Philip Hammond: I read the comments of my right hon. Friend the Member for West Dorset (Sir Oliver Letwin), and I am sure that what he said will prove to be a very important contribution to a debate that we will have, and should have, in the House. I welcome that.

Economy and Jobs (29 Jun 2017)

Philip Hammond: Let me make a little more progress. All that is before we even get to the £500 billion borrowing splurge that Labour has promised us over the next 10 years—£250 billion over the course of a Parliament.


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